Paramount Skydance is buying Warner Bros.
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David Ellison pitches Paramount’s $108 billion hostile bid for WBD as “pro consumer.”
After launching a hostile bid for the entertainment giant, Paramount’s Ellison told CNBC that Netflix’s deal to buy part of WBD would create a company with “unprecedented market power:”
When you combine the number one streamer with the number three streamer, that creates a company that has unprecedented market power, north of 400 million subscribers. The next largest competitor is Disney, with just under 200 million. That’s bad for Hollywood, that’s bad for the creative community, that’s bad for consumers.
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